Of the following high-income countries, which has the highest life expectancy at birth?

Which of the following will lead to an efficient private solution if negative externalities are present in a market?

A) The party having the legal right is taxed. B) The party creating the externality has the legal property right. C) The party suffering from the externality has the legal property right. D) The parties involved negotiate with each other and reach an agreement.

A business incurs the following costs per unit: Labor $5/unit; Materials $3/unit and rent $5000/month. If the firm produces 1000 units a month, the total costs equals

a. $5,000 b. $8,000 c. $13,000 d. $3,000